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NEWS
August 9, 2011
Fuel refiner and seller Sunoco Inc., of Philadelphia, said it will repurchase up to $500 million of its outstanding common stock. Chief executive Lynn L. Elsenhans called the move an "appropriate and strategic use of the company's cash while still allowing the flexibility to continue pursuing growth in our retail and logistics businesses. " Shares closed up $1.17, or 3.91 percent, to $31.11. As of June 30, Sunoco had approximately 121.6 million shares outstanding.    - Reid Kanaley
NEWS
June 22, 2000 | YONG KIM/ DAILY NEWS
A yellow cloud of gritty material from the Sunoco oil refinery blankets South Philadelphia last night. It caused burning eyes and coughing, but company officials said the dust from the 3 p.m. venting posed no threat to residents.
BUSINESS
April 17, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Sunoco Inc. said yesterday that it was selling its Tulsa, Okla., oil refinery to Holly Corp. for $65 million. The Tulsa refinery, with the capacity to process 85,000 barrels of crude oil a day, is the smallest of Sunoco's five refineries, which include three in the Philadelphia area. The deal is expected to close June 1, pending regulatory approvals, Philadelphia-based Sunoco said. The sale comes at a time when some analysts expect refiners to close some of the smaller U.S. refineries because demand for gasoline and other refined products is down.
BUSINESS
January 23, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Lower-than-expected profit margins in refining and a 25-day maintenance shutdown at its South Philadelphia refinery caused Sunoco Inc.'s fourth-quarter refining profit to fall by more than half, to $20 million from $48 million, the company reported yesterday. On the news, the Philadelphia company's shares gave back little of the more than $20 they had gained since August, falling 1 percent, to $56.07. Shares in independent petroleum refiners are at a cyclical peak, with many analysts seeing them headed into a period of strong profit because of, among other factors, clean-fuel regulations that tighten supply.
BUSINESS
February 27, 2009 | By Jeff Gelles INQUIRER STAFF WRITER
As Sunday's expiration of their contract with Sunoco Inc. nears, workers at the company's Philadelphia and Marcus Hook refineries yesterday stepped up efforts to protest staffing cutbacks they say will endanger workers and nearby neighborhoods. Several hundred refinery workers rallied outside Philadelphia's City Hall, then marched to Sunoco's headquarters. Union officials said they presented petitions against the cutbacks signed by about 2,000 people who live near the refineries.
BUSINESS
August 7, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Three years after a brush with extinction, the former Sunoco refinery in South Philadelphia has increased dramatically in value under new owners and could be worth more than $1 billion. The private-equity firm Carlyle Group, which rescued the refinery in 2012 in a joint venture with Sunoco, on Thursday is launching an initial public offering of Philadelphia Energy Solutions Inc. on the New York Stock Exchange. The $250 million IPO would value the underlying refinery enterprise at $1.3 billion, if PES shares launch at $16.50.
SPORTS
July 10, 2008 | By BILL FLEISCHMAN For the Daily News
Think it's a snap supplying racing fuel to NASCAR's teams? For Philadelphia-based Sunoco, now in its fourth year as NASCAR's official fuel, it takes extensive planning. "Our planning begins months ahead of the event," Thomas Golembeski, Sunoco's manager of media and public relations, said this week. "Once the fuel gets onto the dedicated fleet of Sunoco tankers, there's a strict chain of custody from the moment the fuel leaves the plant until it arrives at the track. "There are about 100 people on regional crews that oversee that process.
BUSINESS
June 29, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Sunoco is urging summer travelers to get "pumped up. " But investors in the century-old Philadelphia petroleum processor haven't had a lot to celebrate lately. The U.S. oil refining and marketing industry is in a funk. Gasoline prices have been rising more slowly than crude oil costs, and that squeezes gas merchants such as Sunoco. This is, as chairman Robert H. Campbell puts it, "a tough, dog-eat-dog business. " At a Philadelphia Securities Association luncheon last week, he admitted Sunoco won't meet its 15 percent earnings-growth target this year.
NEWS
May 10, 2009 | By Lini S. Kadaba INQUIRER STAFF WRITER
Workers spent much of yesterday cleaning up a gasoline leak at a Sunoco storage facility in Upper Chichester that has affected aquatic life in a tributary to Marcus Hook Creek, a spokesman for the state Department of Environmental Protection said. A witness driving by the scene at 11:30 p.m. Friday noticed a "geyser of gasoline" gushing from the Sunoco pump station on Route 322 in Twin Oaks and notified authorities, DEP spokesman Dennis Harney said. He said officials estimated that thousands of gallons of gasoline had spilled.
NEWS
January 18, 2012
Sunoco Inc., distributed 56.7 million shares of SunCoke Energy Inc. to its shareholders, completing the spin-off of its metallurgical coke subsidiary. Sunoco no longer owns any shares of SunCoke. Sunoco shareholders received 0.53046456 share of SunCoke common stock; each fractional share was worth $6.82 at the market close on Wednesday. Sunoco shares closed Wednesday at $37.07. That means the value of a Sunoco shareholder's investment in the two companies increased about 3.7 percent in trading Wednesday on the New York Stock Exchange.
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BUSINESS
January 19, 2016
The Pew brothers' old Sun Oil Co. was an empire that built tanker fleets, sent engineers to Arctic and tropical fields, picked and financed Republican candidates, and ran steaming refineries from the Delaware and Schuylkill to West Africa and East Texas. It all happened from paneled offices atop 1608 Walnut St., later in Radnor and at 1818 Market. But pieces of the empire have continued to leave town since Dallas investor Kelcy Warren's Energy Transfer Partners (ETP) bought control of the company's former retail and pipeline units in 2012.
NEWS
November 28, 2015 | By Robert Moran, Inquirer Staff Writer
The last time Diane Barnes visited her brother Robert, who was living on the streets in Olney, was in January. She brought him new boots for the cold weather. She also tried to give him new gloves. "He insisted that I give [the gloves] to his friend," who also was homeless, his sister recalled Thursday night. The next time she saw her brother, it was in a surveillance video released to the media showing him being viciously attacked outside a Sunoco in Olney on April 7. She recognized her brother from the new boots.
BUSINESS
November 15, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. said Friday it accepted responsibility for a contractor who conducted repair work without permits on its Mariner East Pipeline project earlier this year, resulting in a $59,000 civil settlement with the Pennsylvania Department of Environmental Protection. Sunoco said a contractor that it did not identify had submitted permit applications for the work, but performed the repairs before the permit was issued. The repairs were in Berks, Blair, Cumberland, Huntingdon, and Perry Counties.
BUSINESS
November 14, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. paid a $59,000 civil penalty to settle allegations that it conducted repair work without permits on its Mariner East Pipeline project, the Pennsylvania Department of Environmental Protection announced Thursday. DEP inspectors found that Sunoco had not obtained permits for repairs to the pipeline, which the Newtown Square company has repurposed to deliver Marcellus Shale natural gas products to Marcus Hook. The repairs impacted seven wetlands in Berks, Blair, Cumberland, Huntingdon, and Perry Counties, a floodway in Blair County and two small streams in Huntingdon County.
BUSINESS
October 4, 2015 | By Andrew Maykuth, Inquirer Staff Writer
A state judge has dismissed challenges by three Cumberland County landowners to Sunoco Pipeline's exercise of eminent domain, reinforcing the Philadelphia company's effort to build its cross-state Mariner East pipeline. The company, whose plans to transport Marcellus Shale natural gas liquids to Marcus Hook have encountered resistance, said the decision is consistent with rulings by other courts and with the Pennsylvania Public Utility Commission's determination that Mariner East is a public utility service.
NEWS
September 17, 2015 | By Joseph A. Slobodzian, Inquirer Staff Writer
Three Olney women charged with taking three juveniles to beat a homeless veteran - who subsequently slipped into a coma from which he has not recovered five months ago - have rejected plea deals offered by the Philadelphia District Attorney's Office. Lawyers for Aleathea Gillard, 34; Shareena Joachim, 23; and Kaisha Duggins, 24; on Tuesday rejected pleading guilty to the charges in exchange for prison terms of seven to 14 years, according to Assistant District Attorney Jason Kleinman.
BUSINESS
August 7, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Three years after a brush with extinction, the former Sunoco refinery in South Philadelphia has increased dramatically in value under new owners and could be worth more than $1 billion. The private-equity firm Carlyle Group, which rescued the refinery in 2012 in a joint venture with Sunoco, on Thursday is launching an initial public offering of Philadelphia Energy Solutions Inc. on the New York Stock Exchange. The $250 million IPO would value the underlying refinery enterprise at $1.3 billion, if PES shares launch at $16.50.
BUSINESS
June 24, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The acquisitive Dallas company that gobbled up Sunoco in 2012 is making a bid to become an even bigger energy behemoth. Energy Transfer Equity L.P. announced Monday that it had proposed an all-stock merger with Tulsa-based Williams Cos. Inc. that it valued at $53.1 billion, combining two of the country's largest pipeline companies. Williams rejected the offer, which priced its stock at a 32 percent premium, as being inadequate. But the company's stock soared Monday, closing almost 26 percent higher, and Williams announced that it had launched a review of its strategic alternatives, including a merger.
NEWS
June 12, 2015 | By Michaelle Bond, Inquirer Staff Writer
Chester County residents streamed into Brandywine Manor House in Honey Brook on Wednesday to tell Sunoco Logistics their objections to its plans to pursue additional rights of way for new pipelines in their neighborhoods. About 150 people came to an open house hosted by the energy firm to hear about the Mariner East 2 project, the second phase of a plan to transport liquefied natural gas from the Marcellus Shale region to Marcus Hook. The new project would largely follow the path of the company's first Mariner East project, which repurposed an 84-year-old pipeline.
BUSINESS
June 6, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners disclosed Thursday that it plans to build an additional pipeline to deliver Marcellus Shale products to Marcus Hook, reflecting a growing market for liquid fuels derived from the region's shale drilling. The Philadelphia company said it now intends to build two pipelines simultaneously as part of its Mariner East 2 project. The project, announced in November, is the second phase of a plan to move materials including propane, butane, and ethane from Appalachian shale-gas fields to the Marcus Hook Industrial Complex southwest of Philadelphia.
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